Tag: Blockchain

Airlines and airports are functioning on outdated methods of information collection and distribution, using many isolated operating systems where data exchange can be timely and unsecure — despite a reported 170 percent increase in the past 20 years of U.S. outbound trips abroad. Major competitors have recognized how the characteristics of the aviation industry align with blockchain, which has the potential to streamline data sharing among information silos in airports — and with ancillary travel enterprises more broadly — to create a seamless and secure travel experience. Lufthansa Industry Solutions,…

For Siacoin, a distributed storage protocol, new code will be released that makes Bitmain's mining hardware obsolete. Obelisk, a venture that wants to provide alternative mining equipment for the protocol, has proposed code that gives the option to exclude Bitmain's ASIC by changing its rules so that it is exposed to e-mail from CoinDesk and is no longer available. "This will give the sia community the ability to invalidate the Siacoin ASIC miner, not all Obelisk at the fork. This news is noteworthy because CoinDesk announced last week how the…

The Hong Kong University of Science and Technology Business School has received a $20 million research grant to improve the security capabilities of electronic payment systems, China News reported August 12. The Hong Kong University of Science and Technology (HKUST) Business School has reportedly partnered with the University of Hong Kong (HKU), the Chinese University of Hong Kong (CUHK), and the City University of Hong Kong (CityU) to work on the research project. Apart from the enhancement of the electronic payment security system, the parties will also explore blockchain technology applications,…

Barbados-based fintech startup Bitt Inc. has signed a Memorandum of Understanding (MOU) with the Central Bank of Curaçao and Sint Maarten (CBCS) to research the possibility of issuing a digital guilder, according to an August 12 press release. The parties signed the MOU in order to develop a central bank digital currency to facilitate financial payments within the monetary union of Curaçao and Sint Maarten. Per the announcement, the bank is looking to “reduce the level of cash usage within the monetary union” and facilitate “more secure, more Anti-Money Laundering…

South Korea announced it would “nurture” eight sectors of the domestic economy, including blockchain, by investing 5 trillion won (about $4.4 billion) next year, local media outlet Yonhap reports Monday, August 13. According to the results of a meeting involving the country’s finance ministry, the government opted to increase the amount spent on areas such as blockchain, big data and artificial intelligence (AI) by 65 percent from 2018 estimates. “The measures will help facilitate the platform economy, which in turn will help speed up innovative growth,” the publication quotes the…

China’s Ministry of Industry and Information Technology (MIIT) has included a blockchain-dedicated laboratory on the list of its key labs for 2018, published August 13. According to the ministry’s post, the lab will be dedicated to harnessing blockchain for the data security industry and IT, and will be overseen by the National Industrial Information Security Development Research Center. Earlier this month, MIIT proposed a number of measures to accelerate blockchain adoption, saying it would enhance interaction with various localities and departments, and would build a robust industrial ecosystem to allow…

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